Friday, November 16, 2012

One set of tax increases and budget cuts that no one wants will be replaced with... another set of tax increases and budget cuts that no one wants. Repeat.

The framework suggests that automatic budget cuts and tax increases scheduled for the new year would be removed and replaced with a different kind of enforcement mechanism that would include both higher taxes and lower spending.

It will be praised as awesome by the Very Serious People, until we get near the date at which point we can all panic again.